PUBLISHER: The Business Research Company | PRODUCT CODE: 1681801
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681801
Artificial intelligence in oncology involves the application of AI technologies and techniques to enhance cancer diagnosis, treatment, research, and patient care. The overarching objective is to improve outcomes for cancer patients by utilizing computational methods to identify patterns, predict outcomes, and support evidence-based decision-making throughout the entire spectrum of cancer care.
The key components of artificial intelligence in oncology encompass software solutions, hardware, and services. In the oncology field, software solutions leverage AI to enhance various aspects of cancer diagnosis, treatment, and research. These applications are relevant to different treatment types such as chemotherapy, radiotherapy, and immunotherapy, addressing various cancer types including breast cancer, lung cancer, prostate cancer, colorectal cancer, brain tumors, and others. The technology is utilized in applications such as cancer detection, drug discovery, and drug development, serving diverse end-users such as hospitals, diagnostic centers, pharmaceutical companies, research institutes, and others.
The artificial intelligence in oncology market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence in oncology market statistics, including artificial intelligence in the oncology industry global market size, regional shares, competitors with artificial intelligence in oncology market share, detailed artificial intelligence in oncology market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence in oncology industry. This artificial intelligence in oncology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The artificial intelligence in oncology market size has grown exponentially in recent years. It will grow from $1.78 billion in 2024 to $2.36 billion in 2025 at a compound annual growth rate (CAGR) of 32.4%. The growth in the historic period can be attributed to rising cancer incidence, data proliferation in healthcare, clinical trial optimization, demand for personalized medicine, efficiency in radiology and pathology.
The artificial intelligence in oncology market size is expected to see exponential growth in the next few years. It will grow to $7.6 billion in 2029 at a compound annual growth rate (CAGR) of 33.9%. The growth in the forecast period can be attributed to integration with electronic health records (EHR), expanded applications in treatment decision support, patient engagement and education, regulatory support, and standardization. Major trends in the forecast period include integration of natural language processing (NLP) in healthcare, utilization of ai in biomarker discovery, focus on explainable ai for clinical adoption, integration of ai in population health management, collaborations between ai developers and healthcare providers, advancements in predictive analytics.
The growing incidence of cancer cases is anticipated to be a key driver propelling the expansion of the AI in oncology market. Cancer represents a multifaceted group of diseases characterized by the unregulated proliferation and division of abnormal cells within the body. The integration of AI into oncology stands to revolutionize cancer care, offering greater precision, personalization, and efficiency. For example, in 2023, a report from the American Cancer Society Inc., a US-based voluntary health organization, indicated an estimated increase in new cancer cases from 1.8 million to 1.9 million. Thus, the escalating occurrence of cancer cases fuels the growth of the AI in oncology market.
The growing use of cloud-based applications and services by pharmaceutical companies is expected to fuel the growth of artificial intelligence (AI) in the oncology market moving forward. The adoption of these cloud solutions in oncology has been rising steadily due to their many advantages. Cloud computing allows researchers to access and analyze extensive data sets, including genomics, proteomics, metabolomics, transcriptomics, and clinical and epidemiological information. This capability has been particularly beneficial in accelerating cancer research aimed at precision medicine. For example, in June 2024, AAG IT Services, a UK-based non-governmental organization, reported that in 2022, 89% of the organizations surveyed employed multi-cloud solutions for their storage and workloads, while only 9% used a single public cloud and 2% depended on a single private cloud. Thus, the increasing adoption of cloud-based applications and services by pharmaceutical companies is set to drive the AI in oncology market.
Leading companies in the AI in oncology market are concentrating on the development of innovative software, including cloud-based solutions, to enhance their effectiveness and deliver improved outcomes. Cloud-based software plays a pivotal role in AI applications within oncology, offering a scalable, adaptable, and accessible platform for processing and analyzing extensive volumes of medical data. For instance, in March 2023, Illumina Inc., a US-based biotechnology company, introduced Connected Insights, a novel cloud-based software designed for tertiary analysis in oncology applications. By integrating external knowledge bases, Connected Insights streamlines result interpretation and reporting from various assay types, empowering laboratories to expand their utilization of Next-Generation Sequencing (NGS) and accelerate the clinical reporting turnaround time.
In May 2024, Lunit, a medical solutions company based in South Korea, acquired Volpara Health Technologies for $193 million. The goal of this acquisition is to establish a strong partnership in the cancer diagnostics sector, especially within the U.S. market. By leveraging their combined strengths, Lunit aims to enhance its AI-driven solutions for early cancer detection and improve patient care. Volpara Health Technologies is a healthcare software company located in New Zealand that develops and sells tools for the detection and diagnosis of breast cancer.
Major companies operating in the artificial intelligence in oncology market report are Azra AI, IBM Corporation, Siemens Healthcare GmbH, Intel Corporation, GE HealthCare, NVIDIA Corporation, Digital Diagnostics Inc., ConcertAI Inc., PathAI Inc., Median Technologies SA, Kheiron Medical Technologies Ltd., Hampton Research Inc., Tempus Labs Inc., Paige AI Inc., Prognos Health Inc., Enlitic, Inspirata Inc., Berg LLC, Proscia Inc., Prognos Health Inc., Deep 6 AI Inc., Ibex Medical Analytics, Nanox Imaging Ltd., Zebra Medical Vision, Globavir Biosciences Inc.
North America was the largest region in the AI in oncology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in oncology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the artificial intelligence in oncology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The artificial intelligence in oncology market consists of revenues earned by entities by providing services such as surgery, targeted therapy, and stem cell transplantation. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence in the oncology market also includes sales of edge devices, storage devices, field-programmable gate arrays (FPGA), and tensor processing units (TPU). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Artificial Intelligence In Oncology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on artificial intelligence in oncology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for artificial intelligence in oncology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artificial intelligence in oncology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.